I am in SAVE forbearance. I have 330k in loans for medical school. My income was 65k in 2024 and was 85k in 2025. I’m planning to sit on SAVE forbearance for as long as possible/ until RAP is available. My question is, can I recertify my income now using tax return from 2024 before I file my taxes for 2025? Or am I going to pretty much just make payments based on the higher income no matter what I do? I also don’t really want to make payments until July regardless as money is tight in residency. Will certifying income force the start of payments?
Recertifying income question
byu/Key-Cream-715 inStudentLoans
Posted by Key-Cream-715
2 Comments
Yes, you can request an immediate recalculation
You cannot recertify for SAVE. But you can use your 2024 tax return now to apply for another plan. That will mean you would enter repayment once you are processed into your chosen plan. You do have the option of requesting discretionary forbearance in that case.
If you wait to do anything until after you file your 2025 tax return then that is the return you would use on your IDR application.
We don’t know what the transition out of SAVE looks like yet (what plan you would be forced to and if you’d have to provide income documentation yourself).